Appraisal Reviews with Blue Ridge Appraisal Group, LLC

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Blue Ridge Appraisal Group, LLC provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some banks augment typical reviews with post-funding surveys of appraisal quality for any of their high-liability or high-value contracts as a channel to aid in discovering valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Blue Ridge Appraisal Group, LLC, we are skilled in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.